Further Breakdown would be seen if Nifty Breaches 7500 levels
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative with 70 points for Nifty and 180 points for Sensex. EquityPandit predicted that Indian Stock Market is still in negative zone and traders should hold short positions for now. EquityPandit also predicted that Market would see sharp downfall and traders should continue short-selling in the market and exactly same happened. Indian Stock Market fell down sharply with more than 55 points for Sensex and 170 points for Nifty. Traders, who followed EquityPandit’s advice might have earned whooping profits for the day. Nifty saw lows right near EquityPandit’s predicted support levels of 7550. Sensex also closed right above EquityPandit’s predicted support levels of 24850 like a dot. Finally, Indian Stock Market saw a blood bath and closed gap negative for the day.
Today: Indian Stock Market would open flat for the day. Technically, Indian Stock Market is still in negative zone. Some short covering rally (Positive Rally) would be seen in the market but every positive rally would be an opportunity for traders to go short in the market. Now, Important levels to watch out for Nifty is 7530 and 7500 levels. Breaching 7530 would further weaken the market and once Nifty breaches 7500 levels, then we would enter into mid-term bear market and a big downfall would be seen in that case. Maximum Open interest is seen at 7500 levels for Nifty and hence, if levels of 7500 is breached, an another breakdown would be seen that may take Nifty to 7367-7200 levels. FIIs were net seller of Rs.1051.74 crores whereas DIIs were net buyers of 190.86 crores in last trading session. Nifty would see strong support at 7530-7500-7475-7367 whereas strong resistance would be seen at 7606-7675-7755-7800 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
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NSE Nifty: (7568) The support for the Nifty is 7530-7500-7475-7367 and the resistance to the up move is at 7606-7675-7755-7800 levels.
NSE BankNifty: (16074) The support for BankNifty is at 16012-15933-15819-15760 and the resistance to the up move is at 16164-16258-16380-16500 levels.
BSE Sensex: (24852) The support for the Sensex is at 24773-24644-24488-24270 and the resistance to the up move is at 24988-25082-25120-25225 levels.
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